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Deutsche Bank To Discontinue Business With Donald Trump

The post-Capitol invasion woes of President Donald Trump were compounded on Tuesday as Deutsche Bank, the largest creditor to the Trump Organisation, said it would not do business in the future with him or his companies.

A news report sourced from the New York Times stated that the lender’s move, cited a person familiar with the bank’s thinking, comes as Signature Bank, where Trump’s ethics disclosures show he has checking and money-market accounts, called for him to step down.

“The resignation of the president … is in the best interests of our nation and the American people,” Signature Bank said on its website.

According to the news report, the Deutsche Bank is Trump’s biggest lender, with about $340 million in loans outstanding to the Trump Organization.

According to Trump’s disclosures with the U.S. Office of Government Ethics dated July 31 last year, the Trump Organisation is the president’s umbrella group that is currently overseen by his two sons.

A spokesman for Deutsche Bank declined to comment on Tuesday on the Times report while the Trump Organization was also reported not to have immediately responded to an email by the news medium, seeking comment outside normal business hours.

Meanwhile, Christiana Riley, the head of Deutsche Bank’s U.S. operations, has condemned the Jan. 6 violence in Washington in a post on LinkedIn last week.

She wrote: “We are proud of our Constitution and stand by those who seek to uphold it to ensure that the will of the people is upheld and a peaceful transition of power takes place.”

It would be recalled that Reuters had last November reported that Deutsche Bank was exploring ways to end its relationship with Trump after the U.S. elections, following the negative publicity stemming from the ties.

Trump’s loans with Deutsche are for a golf course in Miami and hotels in Washington and Chicago.

The president was handed a rebuke by the world of professional golf this week, with the PGA of America and the R&A both announcing they would shun two courses owned by the President in the wake of the Capitol storming.

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